Visionary Wealth Advisors Acquires 1,632 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Visionary Wealth Advisors boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 128.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,904 shares of the network technology company's stock after buying an additional 1,632 shares during the quarter. Visionary Wealth Advisors' holdings in Palo Alto Networks were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. grew its holdings in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after buying an additional 101 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Westpark Capital restated a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Barclays decreased their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. Finally, Jefferies Financial Group increased their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.40.

Palo Alto Networks Trading Up 0.3%

NASDAQ:PANW traded up $0.61 during trading hours on Monday, hitting $186.75. 4,898,365 shares of the company traded hands, compared to its average volume of 5,612,883. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market capitalization of $123.65 billion, a price-to-earnings ratio of 105.21, a P/E/G ratio of 5.64 and a beta of 1.02. The firm has a 50-day moving average of $178.11 and a 200 day moving average of $185.25.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock worth $96,933,690 in the last three months. Insiders own 2.50% of the company's stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.